HomeMy Public PortalAbout2020.027 - (03-03-20) RESOLUTION NO. 2020.027
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LYNWOOD
APPROVING THE TREASURER'S STATEMENT OF INVESTMENT
POLICY
WHEREAS, the Treasurer is responsible for the City of Lynwood's cash flow -
whereby funds are transferred from various accounts to meet operating obligations; and
WHEREAS, the Treasurer is also responsible for the investment of idle cash; and
WHEREAS, the Treasurer has prepared guidelines for a prudent investment
policy; and
WHEREAS, the policy contains certain investment criteria; and
WHEREAS, the basic premise of the policy is to ensure the safety of funds and
assure that the Lynwood City Council's cash needs are met.
NOW, THEREFORE, the Lynwood City Council does hereby find, proclaim, order
and resolve as follows:
Section 1. That the Treasurer's Statement of Investment Policy attached hereto
as Exhibit "A" is hereby approved.
Section 2. This resolution shall go into effect immediately upon its adoption
[Signatures on the following page]
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PASSED, APPROVED, AND ADOPTED at a regular meeting of the City Council
of the City of Lynwood, California, this 3rd day of March, 2020.
Aide Castro, Mayor
ATTEST: APPROVED AS TO CONTENT:
aria i uinonez, Jose 0 eotl,
City Clerk City Manager
APPROVED AS TO FORM:
Noel Tapia,
City Attorney
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STATE OF CALIFORNIA )
) §
COUNTY OF LOS ANGELES )
I, the undersigned, City Clerk of the City of Lynwood, do hereby certify that the
above and foregoing resolution was duly adopted by the City Council of said City at its
regular meeting thereof held in the City Hall of the City on the 3rd day of March, 2020 and
passed by the following vote:
AYES: COUNCIL MEMBERS SANTANA, SOLACHE, MAYOR PRO TEM
CASANOVA, AND MAYOR CASTRO
NOES: NONE
ABSTAIN: NONE
ABSENT: COUNCIL MEMBER ALATORRE
LiViAt.a..,
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o,
Maria Quinonez,
City Clerk /
STATE OF CALIFORNIA )
) §
COUNTY OF LOS ANGELES )
I, the undersigned City Clerk of the City of Lynwood, and Clerk of the City Council
of said City, do hereby certify that the above and foregoing is a full, true and correct copy
of Resolution No. 2020.027 on file in my office and that said resolution was adopted on
the date and by the vote therein stated. Dated this 3rd day of March, 2020.
_0 -
. / , , , ,, w ,
aria Quinonez,
City Clerk
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